- U.S Markets closed mixed on Friday.
- Dow Future's are now trading higher.
- SGX Nifty is lower by 40-50 Points.
- Our Market's witnessed a tremendous rally on Friday.
- Bank Nifty in particular witnessed huge short covering.
- There were many traders who went short on last Expiry ie , Thursday as Nifty and Bank Nifty closed more than a percent lower.
- All these shorters were taken to cleaners on Friday.
- In the past SBI results have changed the Market sentiment.
- Friday wasn't any different.
- SBI posted stellar results and carried Bank Nifty with itself.
- Nifty is just 2% away from its all time highs.
- Bank Nifty is away 7-9% from its all time highs.
- There's a catch up rally going on in Bank Nifty now.
- There is a good possibility that for this Expiry we might witness fresh highs on Nifty.
- There was a heavy Put writing taking place on Friday.
- Put option Premiums were already down by 60-70%.
- 15100 PE & 15000 PE in Particular have added high open interest.
- For this Expiry 15000 is a strong support.
- Any dips towards this level is a buying opportunity.
- Bank Nifty has a support near 34300 and next support near 34000.
- Resistance levels are near 35k for Bank Nifty.
- SBI is likely to continue positive momentum which keep strengthen Bank Nifty.
- Also Remember that this is the Monthly expiry week so things might turn Volatile.
- India VIX fell drastically on Friday and closed near 19 for the first time in 2021.
- Nifty might Trade between 15060 to 15280 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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